SOUTH INDIAN BANK

THE SOUTH INDIAN BANK LTD

Recommendation :BUY
CMP:Rs.67
NSECODE:SOUTHBANK
Timeframe :3 months -6 months

HIGHLIGHTS

1. The FIRST among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act.
2. The FIRST bank in the private sector in India to open a Currency Chest on behalf of the RBI in April 1992.
3. The FIRST private sector bank to open a NRI branch in November 1992. The FIRST among the Kerala based banks to offer a Credit Card to customers in November 1992.
4. The FIRST bank in the private sector to start an Industrial Finance Branch in March 1993.
5. The FIRST among the private sector banks in Kerala to open an "Overseas Branch" to cater exclusively to the export and import business in June 1993.
6. Second largest network of branches amongst the old private sector banks - 450 branches and 45 Extension Counters spread over 19 States/UT .
7. The FIRST bank in Kerala to develop an in-house, a fully integrated branch automation software in addition to the in-house partial automation solution operational since 1992.

FINANCIAL HIGHLIGHTS :

Net Profit for Quarter Ended 31st March 2005 :-137 lakhs

Net Profit for Quarter Ended 31st March 2006 : 1631 lakhs

Net Profit for YEAR Ended 31st March 2006 : 5090 lakhs

Dividend declared :18 % (First time in several years)

SHARE HOLDING PATTERN :

Foreign Institutional Investors :18.48 % (including Goldman Sachs)

Banks /Govt Inst./Non Govt InstMutual Funds & UTI :12.07 %

Non Resident Indians :4.7 %

Indian Public :57.70 %